Mining companies Platinum Group Metals and Ajlan & Bros Mining have signed an MoU with the Ministry of Investment of Saudi Arabia to facilitate strategic guidance and financial support for South Africa’s Waterberg mining project.
As part of Saudi Arabia’s Vision 2030 initiative to develop the mining and minerals industry, the country aims to secure mined platinum group metals concentrate from the Waterberg Project. The minerals are targeted for use at a proposed platinum group metals smelter and base metal refinery in Saudi Arabia.
As part of the agreement, the parties undertook a market study to identify potential alternative sources of platinum group metals-bearing concentrate to reduce the risk of operations at the new smelter and refinery being dependent on concentrate from one source.
A key requirement for the export of unrefined metals in concentrate will be long-term approval from the government of South Africa.
As such, Platinum Group Metals has engaged with the country’s government to identify local beneficiation opportunities and analyze the impact exporting concentrate will have on South Africa’s mineral value chain.
